Gate.io Launches the Next Big Thing and Distributes 300 million Gatechain Tokens (GT)

2019-04-01 14:41:00Read：1670830

FAQ:

1. what is GT?

GT stands for Gatechain Token, it is the base currency of Gatechain's public chain, supporting the infrastructure of the Gatechain public chain. GT is the main network fuel of Gatechain, paying the network transfer fee. Gatechain encourages GT holders to protect the network health through PoS equity mining. Gate.io will also adopt GT as part of its eco.

2. How to Get GT?

GT can only be gained via Gate.io. We will give away 300 million GT to users in the initial stage of the POINT launch. The GT distribution starts at UTC 4:00, April 8th, 2019. There is no ICO, no private sale. Please be careful of scams.

NO. The alleged ERC20 based GT is a scam. GT can only be gained on Gate.io. The deposit and withdrawal of GT will only be available when the Gatechain Mainnet is launched in Q4 2019.

4.What is the core value of Gatechain and why is it different?

Other than the DEX it provides, Gatechain creatively solves two safety issues, including 1) how to recover stolen digital assets and 2) how to find lost private keys. These two issues we believe are not solved by other public chains. We would reveal more details when the Gatechain Mainnet is launched. We would also make it open source to benefit users and the community.

5.Why is the initial amount of GT 300 million, but end up being 1 billion after ten years?

Users have raised doubt about our supply and distribution mechanism, regarding our large max supply and low circulating supply in particular. Though this design is not quite like the others, we believe it can benefit both our platform and users in the long run. The 300 million GT will be entirely distributed to users, with no ICO or private sales, and no distribution to the team, meaning the distribution is completely fair. The remaining GT will be locked for 12 months and vested for 10 years, so that the funds can be slowly released to support our projects throughout the future.

6.What is POINT?

POINT is a new sys. that can be used to deduct trading fees. 1 POINT equals 1 USDT fee. Users can get further handling fee discounts by purchasing a prepaid plan.

7. How can I use POINTs?

Initially, POINTs can be used to deduct trading fees in Markets and margin trading. In the future, POINTs can be used to deduct trading fees in other sections such as Fiat trading, Fiat lending/borrowing and contract trading, etc.

8.Will I purchase POINT plans without getting the GT rewards if all the GT has been given away that day?

No. During the distribution, if the daily GT supply is all distributed, POINTs cannot be purchased. The sales of POINTs will be resumed the next day. Users will not purchase POINT plans without getting GT rewards. Users will be notified via announcements if all the GT are given away and when the POINTs do not come with GT rewards.

9.Can POINTs be transferred?

Originally POINTs can only be transferred within a certain period of time. However, users have raised concerns about not being able to transfer POINTs in time or at a reasonable price. To address users needs, we have now decided that users can transfer their POINTs. However, Please be aware of the risk during transfers.

10.Can GT be pre-ordered? Is there any private sale? Is there reservation for institutions?

The 300 million GT will be awarded to users with the POINTs purchased publicly. We have announced all the supply and distribution rules to ensure fairness and transparency. There is no ICO, no private sale, no distribution to team, no pre-order, and no reservation for institutions.

11.When will GT be listed for trading?

After the second phase distribution, GT will be listed on Gate.io for trading. GT deposits and withdrawals will be enabled after the GT mainnet launches.

1. Live Presentation on Youtube.

The Gate.io Team has now been operating for 6 years.

Our vision is enabling traders to have the best possible user experience, and our technical team is always working on new things to go above and beyond what is typically asked of a cryptocurrency exchange.

For the past 6 months, we've been very focused on providing our users with the full set of financial tools so as to help them maximize their returns, and these features have been met with rampant en-thusiasm and shared profits all around.

The innovation we’re bringing to the industry will be groundbreaking, our role in industry trends like that of no other exchange, but most importantly, it will be getting us one step closer to our blockchain vision, and our values of transparency and integrity.

Tune into our live presentation on Youtube on Monday April 1st 2019 at 10:00 A.M. in London / 1:00 P.M. in Moscow / 6:00 P.M. in Beijing

2. Our Principles and Ranking in the Industry

Gate.io has always adhered to the principles of Security, Transparency and Honor, and provide us-ers with the best service with strong technical strength and a security focus. Our crypto-currency transactions, leveraged wealth management, fiat currency transactions, fiat currency lending, and perpetual contract features have become popular, and we strive to be one of the world's leading service providers.

We do not charge a/ listing fee, never washed the transaction volume, and we have even hired a third-party authority to monitor the platform in real time to observe any trading abnormalities. To this end, we have won a large number of user's recognition and industry reputation, giving us a firm basis to enter the ranks of the world's top blockchain exchanges.

Our Perpetual Contracts feature has only been launched for 4 months, but we've already achieved an average daily trading volume in tens of millions of dollars despite the high risk control standards we impose on users margin, making us one of the world's leading sustainable trading platforms for perpetual contracts.

Leveraged wealth management was only launched 6 months ago, but we've since then become one of the world's largest virtual currency P2P lending platforms. The total amount of virtual currency borrowed exceeds $4.5 billion and has created nearly $10 million financial income for users.
Gate.io is one of the most active OTC/C2C fiat currency trading platforms in the world, providing users with tens of millions of dollars of fiat currency peer-to-peer transactions every day.

Gate.io is the world's most active Blockchain asset-for-money lending platform. It provides thou-sands of users with no-casual risk fiat currency lending services (the platform bears the risk of tan-dem warehouses). There is currently no handling fee.

The Gate.io mobile app has reached 2 million users and is one of the most active mobile app soft-ware in the industry.

4. The POINT Sys. for Service Fees

For a long time, Gate.io has granted users with a VIP rating based on the user's recent transaction volume. Users can enjoy a transaction fee discount according to their VIP rating.

In order to further reduce user’s transaction costs, increase users’ loyalty, and reward Gate.io platform users, we are officially launching a new POINT Sys.. Users can get further handling fee discounts by purchasing a prepaid plan.

With Gate.io POINT Sys., 1 point equals 1USDT fee. Starting from May 2019, fees incurred when placing a trading order will be deducted by POINT. In the future, POINT can also be used to deduct Fiat trading and margin trading fees.

Points can be transferred between users. However, once purchased, the points cannot be returned.

5. Gatechain
GateChain is an innovative public chain focused on secure storage and value exchange of block-chain assets. With an original online hot insurance account, the clearing guarantee creatively solves threat of the user's digital assets stolen and the loss of the private key, decentralized transac-tions, cross-chain transfer and other core issues. For a detailed introduction: https://gatechain.io

6. The Gatechain Token (GT)

At the same time, we will award 300 million GT (Gatechain Token) to users in the initial stage of the POINT launch.

GT is the base currency of Gatechain's public chain (although the main network is not online yet), supporting the infrastructure of the Gatechain public chain.

GT is the main network fuel of Gatechain, paying the network transfer fee. Gatechain encourages GT holders to protect the network health through PoS equity mining. Gate.io will also adopt GT as part of its eco.

GT Total Supply and Distribution

The initial amount of GT distributed will be 300 million, out of a total amount of 1 billion distribut-ed over 10 years. The distribution plan will be the following:

300 million GT (30%) distributed to Gate.io users

200 million GT (20%) research & development (locked 12 months and release linearly over 10 years）

100 million GT (10%) used for marketing promotion and expanding foundation (locked 12 months and release linearly over 10 years）

200 million (20%) Community development foundation (locked 12 months and release linearly over 10 years）

7. GT Benefits and Eco
Gate.io will leverage its strengths and strong influence in the Blockchain industry to promote the GT eco including but not limited to the following:

1) GT will be the main currency of the GateChain network, supporting the infrastructure of GateChain, paying the network transfer fee.
2) Gate.io will distribute 200 million GT mining outputs as the GateChain PoS mining reward to GT holders
3) Projects that publicly raise funds on the Gate.io platform must use GT and lock the GT they have raised.
4) Projects that published private sales information must hold and lock GT.
5) Gate.io centralized trading platform will maintain the principle of not accepting the listing fee but will request some listed projects to hold and lock GT; this information will be transparent to the public.
6) GT will become the base currency and transaction fuel fee on GateChain's decentralized trading platform.
7) On the decentralized trading platform, projects will be charged a GT listing fee or require locking GT according to project conditions; this information will be transparent to the public.
8) GT will be used as the payment currency on the Gate.io platform, such as the monthly fee for VIP purchases.
9) Gate.io will allow projects in the future to release project tokens on the GateChain main network.
10) Gate.io VIP promotion will be impacted by the volume of GT held in trading, in addition to the trading volume.
11) Gate.io will repurchase GT in the open market to establish a security legal fund.
12) Gate.io will provide technical and financial support for GT and the decentralized trading platform as a mainnet asset.

8. The GT Safety and Law Fund

Gate.io will establish a security legal fund:
Gate.io has experienced hundreds of judicial cases and judicial investigations related to Blockchain security in the past few years, involving hundreds of millions of dollars. With extensive experience in technology tracking and judicial processing, Gate.io understand the importance of the security legal to the Blockchain industry.
Gate.io will repurchase GT from the open market and gradually establish a 50 million GT-scale se-curity legal fund.
Through legal, judicial, commercial insurance, wallet technology and other means, Gate.io is com-mitted to building a safe, compliant and healthy Blockchain asset protection platform on a global scale.
For the industry users, and especially the platform users, Gate.io provide global Blockchain tech-nical tracking and legal assistance when the funds are stolen, defrauded and other events. Solve the worries of users and provide security measures for the user’s Blockchain assets.

9. 300 Million GT Reward to Gate.io Users
Gate.io will give away a total of 300 million GT to the users purchasing POINTs, in four different phases:

GT Distribution Warm-up
200,000 GT will be given away through the Gate.io chat room, social media airdrop, and an addi-tional 200,000 GT will be awarded through the GT Referral Program.

Phase 1: 1 week
150 million GT will be given away when users purchase POINTs, the initial ratio is 1 USDT purchased to 2.5 GT, with daily decrement of 3%

Phase 2: 1 week
50 million GT will be given away when Gate.io old users and VIP users purchase POINTs, the ini-tial rate is 1 USDT purchased to 2.5 GT.

Phase 3: 1 year
All the remaining GT are given to users by purchasing the POINT within this first year. All of the GT not given away will be destroyed.

Notice:
1) The process of lucky draw will be recorded to ensure fairness, the recorded video will be posted on Gate.io social media accounts.
2) Each UID can only participate once. Participants who do not follow the rules (e.g. did not retweet or fail to submit the authentic screenshot) will be disqualified.
3) Please double check the user information when submitting the form to ensure you can receive the airdrop.

Activity #2. Refer Friends, Get 20,000 GT
1.Time: From today till UTC 16:00, April 20, 2019
2.Rules:
1) Refer Gate.io to friends via the Referral Link and get referees to complete real name verification to share 20,000 GT.
2) If referees purchase Gate.io point cards, referrers can earn an additional 30,000 GT. Referrers can earn additional GT if more point cards are purchased by the referees.